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The "Duty" To Be A Rational Shareholder, David A. Hoffman
The "Duty" To Be A Rational Shareholder, David A. Hoffman
David A Hoffman
How and when do courts determine that corporate disclosures are actionable under the federal securities laws? The applicable standard is materiality: would a (mythical) reasonable investor have considered a given disclosure important. As I establish through empirical and statistical testing of approximately 500 cases analyzing the materiality standard, judicial findings of immateriality are remarkably common, and have been stable over time. Materiality's scope results in the dismissal of a large number of claims, and creates a set of cases in which courts attempt to explain and defend their vision of who is, and is not, a reasonable investor. Thus, materiality …
Confronting Conventional Thinking: The Heuristics Problem In Feminist Legal Theory, Nancy Levit
Confronting Conventional Thinking: The Heuristics Problem In Feminist Legal Theory, Nancy Levit
Nancy Levit
The thesis of The Heuristics Problem is that the societal problems about which identity theorists are most concerned often spring from and are reinforced by thinking riddled with heuristic errors. This article first investigates the ways heuristic errors influence popular perceptions of feminist issues. Feminists and critical race theorists have explored the cognitive bias of stereotyping, but have not examined the ways probabilistic errors can have gendered consequences. Second, The Heuristics Problem traces some of the ways cognitive errors have influenced the development of laws relating to gender issues. It explores instances in judicial decisions in which courts commit heuristic …